joining us now is james athey, investment director, aberdeen asset management. good morning and thank you for coming on. how much do you worry about the ratcheting up of rhetoric between the u.s. and china? what does it mean for markets? toos: i try not to worry much, but it is a concern for market. s. we have a reemergence of tents narratives bilaterally between the u.s. and china, and more broadly between china and other countries. s atralia is applying tariff the border there. we may have seen after the phase one deal, that we could put these trade tensions behind us, but that is not the case. more broadly on a secular basis people have been expecting this anyway. what we have learned from the coronavirus is supply chain costs, minimizing costs across leads to vulnerability, and maybe there needs to be a rethink to that model. know china -- we have seen that with the passing of this bill. to be seen as soft on china going into the election in november. the combination of all those suggests these skirmishes and trade tensions will be with us. it is a negative

up, james athey of aberdeen on this tuesday market rally.is bloomberg. ♪ ♪ from new york city, this is "bloomberg surveillance ." we are live on bloomberg tv and radio. -- with tomne keene, i'm jonathan ferro, along with lisa abramowicz. nicelyon the s&p 500, through 3000, up by 1.8%. the correlation is pretty much in line with what you would expect to see as risk appetite improves. a weaker dollar, stronger euro. lower, higher yield. weaker, whichnc is one of those indicators, and gold ebbing away, still above $7,900. $1700.-- above what do they call this three day weekend in england? england is off today, right? jonathan: we had a nice long weekend into monday. we don't get the tuesday off as well. traditionally, the first monday of may and the final monday of may, everyone gets a bank holiday. tom: we should do that in america, no question about it. recalibrate, folks, with our investment. james athey is with us right now from aberdeen standard as he recalibrate's as well. what have you adjusted within your view, given this past two to do